Credit Score Competition Act of 2017
Latest action · Aug 1, 2017 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedAug 1, 2017
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Credit Score Competition Act of 2017
This bill amends the Federal National Mortgage Association Charter Act and the Federal Home Loan Mortgage Corporation Act to allow the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), when determining whether to purchase a residential mortgage, to consider a borrower's credit score only if certain procedural requirements are met with respect to the validation and approval of credit-scoring models.
The Federal Housing Finance Agency may, by regulation, establish standards and criteria for processes used by Fannie Mae and Freddie Mac to validate and approve credit-scoring models in accordance with the bill.
Cosponsors 5
Members who signed on, in the order they did. Signatures ran from Aug 1, 2017 to Mar 5, 2018; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-VA | Mark R. Warner | Original | Aug 1, 2017 |
| D-VA | Tim Kaine | Aug 2, 2017 | |
| D-AL | Doug Jones | Feb 12, 2018 | |
| D-IL | Tammy Duckworth | Feb 26, 2018 | |
| D-MO | Claire McCaskill | Mar 5, 2018 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Aug 1, 2017 |
Actions 2
Everything that happened, newest first.
- Aug 1, 2017Introduced in Senate
- Aug 1, 2017Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 898 | Credit Score Competition Act of 2017 | Related bill | Feb 7, 2017 |
| S 2155 | Economic Growth, Regulatory Relief, and Consumer Protection Act | Related bill | May 24, 2018 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to require Fannie Mae and Freddie Mac to establish procedures for considering certain credit scores in making a determination whether to purchase a residential mortgage, and for other purposes.
- Short Titles as Introduced
- Credit Score Competition Act of 2017
Subjects
Assigned by the Library of Congress. Policy area: Housing and Community Development.
Text 1
Each version as it was printed, newest first.
- Aug 1, 2017Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
